Wisconsin Housing and Economic Development Authority

The meeting involves a closed session to deliberate on the modification or making of multifamily and economic development loans or tax credit awards. Specific closed session decisions include the approval to pursue foreclosure and the appointment of a receiver for United Townhomes, as well as loan approvals for Monona Senior Apartments, Heritage Monona, and the third amendment to the Westown Green loan. Open session items include the review of an amended and restated series resolution for 1 S Franklin, authorization to administer HUD Foster Youth to Independence vouchers, and authority to apply for Section 811 Project Rental Assistance.

The Finance Committee agenda included several decision items such as the release of funds from the 2009 Home Ownership Revenue Bond Residual Account, approval of contracts exceeding $50,000, adoption of the Fiscal Year 2027 Budget, revisions to the Procurement Policy, review of the Broker/Dealer List, and updates to Investment Policies and Procedures. Discussion topics covered investment activity from previous months, the Minority, Veteran and Women Business Activity Report for the third quarter of FY2026, various internal audit reports and status updates, a financial statement review, and a review of the Committee Charter and Checklist, along with ethics hotline activity.

The meeting involves a closed session to deliberate on the modification of multifamily or economic development loans and tax credit awards, specifically regarding the Heritage of Monona Swap, Monona Senior Swap, and a loan amendment for Mason Manor. Following the closed session, open session items include an initial resolution for 1 S. Franklin, as well as discussion of delegated decision papers for Timberline Terrace and The Hampton.

This Qualified Allocation Plan for the State of Wisconsin outlines the framework for administering the Housing Tax Credit Program for calendar years 2027 and 2028. It details competitive and non-competitive application and allocation processes, covering various credit types including Federal 9%, Federal 4%, and State Housing Tax Credits. Key components include eligibility requirements, market evaluation, financial feasibility, comprehensive underwriting criteria, and a detailed scoring system based on factors such as areas of opportunity, community needs, and energy efficiency. The plan also establishes set-asides and timelines to ensure effective distribution and compliance for projects aiming to provide affordable housing throughout the state.

The Qualified Allocation Plan (QAP) for the State of Wisconsin, administered by the Wisconsin Housing and Economic Development Authority (WHEDA), establishes the criteria and process for allocating Housing Tax Credits to qualified rental housing developments. The plan's strategic objectives include increasing the supply of affordable housing, employing place-based strategies for community development, encouraging innovative capital leveraging, and increasing economic opportunity through tenant stabilization and improved life outcomes. This framework aims to foster responsible and transparent housing development across Wisconsin.